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7/11/2014 9:38AM

Fri., July 11: Wells Fargo Kicks Off Big Banks Earnings

WSJ's Simon Constable gives an update on the markets, plus Friday's top stocks. Wells Fargo's earnings beat estimates in the second quarter and European markets are largely high following Thursday's pullback. Photo: Getty

This transcript has been automatically generated and may not be 100% accurate.

... the ... let's look at stories making news on Wall Street said I knew him of its alliance Lehigh and Friday trading all they see falling yesterday's pullback of as the European markets that of the last one is that yes twenty s the Portuguese Index Portugal today babble warping as the night of a ... aam based bank Banco Espirito Santo has been set up bouncing back that ... here in the US the fuss of the big banks unanswerable cannot say with Wells Fargo reporting a revenue of twenty point one billion dollars in the second quarter that was slightly above estimates also EPS came in a goal and one cents but in line with expectations that the pre market price they did that ... down about thirty cents that so no less than one percent move also making use of a Reynolds American said Friday morning it was in talks to buy smaller U S rival Lorillard ... confirming negotiations of a will be a multi billion dollar much of that would reshape the global tobacco market ... not surprisingly despite the level of people quitting tobacco it's still an enormous and a straight Why Alibaba is set to star on the path to an IPO the Chinese e-commerce company plans to launch its initial public offering process as soon as the end of this month ... I guess it'll be nice and cool so it won't get too sweaty ok ... that's according to family of the people familiar with the maps up